Lamps Plus Gains Private Equity Investor
Los Angeles-based private equity firm Nexus Capital Management LP has led a strategic investment in Lamps Plus, Inc., an omnichannel retailer of lighting, ceiling fans, and home décor that sells online through LampsPlus.com and third-party marketplaces as well as its own 35+ bricks-and-mortar stores in California, Colorado, Arizona, Nevada, Oregon, Texas, and Washington.
“We are extremely excited to be the first institutional capital partnering with Dennis and Manja Swanson, the founders of Lamps Plus,” said Damian Giangiacomo, Partner at Nexus. “Lamps Plus is an iconic brand with a national presence and we look forward to supporting [their] next phase of growth.”
Dennis Swanson added, “Lamps Plus has built a leading position in the lighting category over the past several decades. I want to thank our employees, customers, and vendor partners for helping us reach this milestone in the company’s history. I look forward to working closely with the Nexus team to facilitate the continued success and expansion of the company’s leading market position.”
Clark Linstone, President & CEO of Lamps Plus, stated, “I am extremely proud of the dynamic team members that drive Lamps Plus every day, and I am thankful for their contributions that have delivered the Company to this point and will propel us to a strong future.”
Lamps Plus began as a brick-and-mortar retailer in Southern California and over time has successfully transitioned its business towards the ecommerce channel. It is now the nation’s largest specialty lighting retailer and sells a combination of in-house and third-party brands. Lamps Plus is known for its large product assortment and strong design capabilities.
“Lamps Plus competes at an attractive intersection of building products, consumer, and ecommerce, and aligns with our extensive experience investing across that spectrum to support management’s focus on execution and innovation,” Giangiacomo remarked. “On behalf of Nexus, I would like to express my gratitude to the Lamps Plus team for working with us on this transaction. We look forward to working closely with them and the company’s employees on this next chapter for the business.”
Deutsche Bank Securities, Inc. acted as financial advisor and Munger Tolles & Olsen LLP served as legal advisor to Nexus. J.P. Morgan Securities LLC served as financial advisor and Buchalter served as legal advisor to Lamps Plus on the transaction.